Markets end tad higher

Markets have closed marginally higher on Monday, amid a volatile trading session led by Reliance Industries and private banking majors.

The 30-share Sensex ended at 17,773 up 24 points and the 50-share Nifty ended at 5,390 up by 9 points. The Sensex and the Nifty reached an intra-day high of 17,850 levels and 5,351 mark, respectively.
 
On the global front, most of the Asian markets ended positive barring Shanghai. Asian markets advanced after Greek lawmakers approved a highly unpopular austerity bill in return for a second bailout from the European Union and International Monetary Fund to avoid a chaotic default.

European markets are firm after the Greek parliament approved measures needed to secure an international bailout and avoid a chaotic default that would dent market confidence in the euro zone. CAC, DAX and FTSE have gained by nearly 1% each.

Back home, index heavyweight Reliance Industries gained almost 1% on reports that the company has signed a deal with France's Dassault Aviation for partnering in the defence and homeland security sector in India. 

Auto stock like Hero MotoCorp was the top Sensex gainer, up over 2%. M&M, Bajaj Auto and Tata Motors gained between 0.4-1%. From the metal space, Tata Steel, Hindalco and Coal India gained between 1-2%.

Banking shares like HDFC Bank and ICICI Bank surged by almost 1% each. HDFC gained marginally higher. However, SBI plunged by almost 2% after the announcement of Q3 earnings. The bank reported a 15.3% jump in net profit at Rs 3,263 crore for the third quarter ended December 2011 as compared to Rs 2,828.1 crore in the same period a year ago. The gross non-performing asset (NPA) ratio stood at 4.61% as against 4.19% in the previous quarter (Q2).

Consumer Durables stocks like Bajaj Electricals, Gitanjali Gems, Titan Inds and Whirlpool gained between 1-4%. Capital Goods major L&T declined by nearly 2%. From the IT space, Wipro was the top Sensex loser, down 2.57%. TCS and Infosys declined modestly.

The broader markets outperformed the benchmark indices. BSE Midcap and Smallcap indices gained between 0.2-0.5%.

Stocks In News

Amara Raja Batteries surged 9% after reporting 66% year-on-year (y-o-y) growth in net profit at Rs 65.93 crore for the quarter ended December 2011, as against Rs 39.65 crore in the corresponding quarter of previous fiscal.

Shares of fertiliser companies were in focus on the bourses today, with many of them trading higher on back of huge volumes. National Fertilisers, Rashtriya Chemicals and Fertilisers, Zuari Industries and Chambal Fertilisers surged more than 5%.

Balkrishna Industries surged 11% to Rs 243, its highest level since January 2006, after the board approved a capacity expansion and supporting development programme (phase II) at Bhuj, Gujarat.

The overall market breadth ended positive as 1,494 stocks are advancing while 1,383 are declining.